ucsgears

UCS_TTM - Reversion Bands

Ok, Here we go - Version 1 of TTM             Reversion Band goes live.

Link to TTM             Reversion Band - http://www.tradethemarkets.com/products/item343.cfm

Link to TTM             Reversion Band Guide - http://kb.simplertrading.com/reversion-bands/

John Carters Mastering the trade - http://www.amazon.com/Mastering-Trade-Second-Edition-Techniques/dp/0071775145
For the amount of information this has, the price tag is not hefty.

John's RTM             Chapter Synopsis - http://www.tradethemarkets.com/public/mastering-the-trade-chapter-10-reversion-to-mean.cfm

What did I modify?

1. Automated the Daily + and Intraday settings. So Switching to intraday will change the setting automatically.

2. Added text callouts for RTM             condition
a. John Carter's Indicator
b. Slope Based (my addition).


Future Improvement Planned.

1. Will Convert this into a system based on John's Indicator from TS             .

2. Custom Options for Slope and MA setting for Trade filter.
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// Created by UCSgears
// Adopted from TTM Reversion Bands
// Added a little touch


study(title="UCS_TTM - Reversion Bands", shorttitle="UCS_TTM-RTM", overlay=true)

// Defining Timeframe and Parameters
a = isdwm ? 1 : 0
b = isintraday ? 1 : 0

// TTM - Revertion to the Mean Band - INPUTS
z = input(0, title = "Offset")
usesl = input(true, title = "RTM against Slope (UCSgears Addition)", type=bool)
length = a == 1 ? 13 : 25
atrlen = a == 1 ? 13 : 25
mult = a == 1 ? 1.5 : 2.5
range =  tr

// Calculations
ma = ema(close, length)
rangema = ema(range, atrlen)
upper = ma + rangema * mult
lower = ma - rangema * mult

// All Plots
plot(upper, color=purple, title="Upper Channel", offset = z)
plot(ma, color=red, title="Middle Line", offset = z)
plot(lower, color=purple, title="Lower Channel", offset = z)

//Slope Definition
slope = (ma - ma[5])/5

sh = highest(slope, 250)
sl = lowest(slope, 250)
sm = 0 /////////////////////////////////////////////////////////////////////////////////////////////////(sh+sl)/2

pup = slope > sm ? 1 : 0
ndn = slope < sm ? 1 : 0

plotshape(usesl ? pup : na, style = shape.triangleup, color = green, location = location.bottom, title = "Positive Slope", transp = 0)
plotshape(usesl ? ndn : na, style = shape.triangledown, color = red, location = location.top, title = "Negative Slope", transp = 0)

// Condition for Dots
dota = (high > upper) and (high < upper)[1] ? upper : na
dotb = (low  < lower) and (low  > lower)[1] ? lower : na
dotbsp = pup == 1 ? dotb : na
dotasn = ndn == 1 ? dota : na

plotshape(usesl ? dotasn : dota, style = shape.circle, location = location.abovebar, color = fuchsia, title = "RTM UP", text = "RTM - UP \n SHORT", textcolor = fuchsia, transp = 0)
plotshape(usesl ? dotbsp : dotb, style = shape.circle, location = location.belowbar, color = blue, title = "RTM Down", text = "RTM - DOWN \n LONG", textcolor = blue, transp = 0)

Related Ideas

pcmourao
2 years ago
I asked a question on another post ... the one with the one with the top and bottom candle identifier script. Do you mind having a look?
Reply
ucsgears PRO pcmourao
2 years ago
I did reply today. Please check back.
Reply
eleutron298
2 months ago
Is this script usable for Think or Swim?
Reply
ucsgears PRO eleutron298
2 months ago
yes,,,, with some modifications.
Reply
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